Nonprofit Hospital Service Corporations
§ 27-19-5.3 Additional powers.
Notwithstanding any other law or section of this chapter which may be
inconsistent with this section, each nonprofit hospital service corporation
may, through a subsidiary, develop, underwrite and/or offer for sale life
insurance, disability insurance, long-term care insurance, employee assistance
programs and/or other health related programs; provided, however, prior to
underwriting risk under policies of insurance listed above, the nonprofit
hospital service corporation must first demonstrate that underwriting such risk
is consistent with the statutory mission of the nonprofit hospital service
corporation and obtain prior written approval from the health insurance
commissioner. Each nonprofit hospital service corporation may also directly, or
by contracting with another entity, develop and/or offer for sale the policies
or programs described in this section. However, the nonprofit hospital service
corporation shall not directly underwrite any risk under a policy of insurance
described in this section.
History of Section.
(P.L. 2006, ch. 182, § 2; P.L. 2006, ch. 600, § 2.)